With Q1 in high gear, steered by tight inventory and rising loan rates, Cox Automotive offers the automotive industry 10 predictions for 2023.

By nearly all measures, 2022 was a difficult year for both the industry and the consumer, marked by historically low new-vehicle inventories, high prices, and stubborn inflation chipping away at monthly budgets. A relatively strong jobs market was a tailwind, but all the while, a hawkish Federal Reserve pushed rates higher, essentially riding the brakes as the auto industry struggled to gain momentum.

“This past year was challenging not only to forecast but for the industry to manage,” said Cox Automotive Chief Economist Jonathan Smoke. “As we look forward into 2023, we see one set of challenges being replaced by another. We expect the year ahead to be one of transition, as both the consumer and the industry move past the remnants of a global pandemic and set a new course for mid-decade growth.”

Guided by recent research, intelligence capabilities powered by DRiVEQ, the largest breadth of first-party data in the automotive ecosystem, and an unmatched team of analysts and experts, download your copy today to see what the Top 10 forecasts are, as well as ways you should be strategizing for the road forward this year.